Bill > SB263

This bill requires the California Transportation Agency, in collaboration with the Department of Finance and the Governor's Office of Business and Economic Development, to conduct a comprehensive study on the potential impacts of future tariff increases on international trade. The study will examine how such tariffs might affect California's economic output, employment, consumer goods affordability, state and local tax revenues, and revenues at airports, seaports, and land ports of entry. The agency must convene the California Freight Advisory Committee to discuss the study's scope and develop a model for assessing potential trade barriers. The study will specifically analyze impacts on various economic sectors like manufacturing and agriculture, considering both U.S. import tariffs and reciprocal foreign export tariffs. The Transportation Agency is required to submit the study to the Legislature by January 1, 2026, and the bill appropriates $500,000 from the General Fund to support the research ($300,000 to the Transportation Agency, $150,000 to the Department of Finance, and $50,000 to the Governor's Office of Business and Economic Development). The bill is designated as an urgency statute, meaning it will take effect immediately to address potential economic threats facing California.

Budget and Finance, Business and Industry, Transportation and Infrastructure

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB263